EUR/USD Daily Analysis
The intraday bias for EUR/USD remains neutral at present. If the pair breaks below 1.0654, it will resume the corrective fall from 1.1032 to the 38.2% retracement level of the 0.9534 to 1.1032 range at 1.0463. There should be strong support seen around that level, which could bring a rebound, at least on the first attempt. On the upside, if the minor resistance level of 1.0790 is firmly broken, it will turn the bias to the upside for a retest of the 1.1032 high.
In the bigger picture, the rally from the 2022 low of 0.9534 is a medium-term uptrend rather than a correction. A further rise is expected towards the 61.8% retracement level of the 1.2348 (2021 high) to 0.9534 range at 1.1273. This will continue to be the favored scenario as long as the support level of 1.0482 holds.
